ADMS 2510 1st midterm review

Chapter 1, 2, 3 1. Management accounting, as defined by the IMA, uses the expertise of the management accountant to ● improve business performance and the life cycle of operations. ● implement an organization's strategy. ● improve quality and reduce manufacturing cost. ● implement a tactic of customer value and shareholder value. 2. Cost management has evolved from a focus on measurement to one of identifying those measures that are critical to the organization’s success. Given this new focus, indicate which one of the following types of cost management systems cost managers are likely to be striving for. ● A system in which strategically relevant cost management information is an integral part ● A system that tracks key operating data and develops accurate cost information ● A system that focuses on reliable financial reports ● Basic transaction reporting systems 3. A company taking a strategic and customer-centered point of view can best address sustainability, a concern for environmental and social as well as economic performance, through: ● the use of a sustainability perspective in the balanced scorecard. ● lobbying in Congress for stronger environmental regulations. ● reporting violations of a company's human resources policy to the proper authorities. ● annual financial reporting to the Securities and Exchange Commission. 4. The implementation of the balanced scorecard (BSC) can involve all of the following except : ● a strategy of differentiation (as opposed to one of cost leadership). ● a link to reward and compensation systems. ● an accurate reflection of the organization’s strategy. ● the strong support of top management. 5. The following are critical success factors for Dell Incorporated: ● Product manufacturing time ● Customer perception of order-taking convenience and accuracy ● Revenue growth ● Selling expense to sales ratio ● Number of new manufacturing processes developed ● Order processing time ● Materials inventory ● Training dollars per employee ● Number of emerging technologies evaluated ● Customer retention ● Manufacturing defects ● Number of new manufacturing processes under development ● Customer satisfaction with speed of service ● Gross margin ● Operating cost ratio Required: Using the four BSC perspectives (learning and growth, internal processes, customer satisfaction, and financial), select these CSFs into the appropriate perspective. Chapter 4 & 8 6.

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Required: If the total cost function for croissants is linear, what will be the average cost to bake 3,400? (Do not round intermediate calculations. Round your final answer to 4 decimal places.) 9.

Chapter 9 10.

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